Government, through the Rural Electrification Authority (REA), has handed over a K3.6 million project to electrify Kalundu in Kaoma District and Situtu in Nkeyema District to MBT Contractors.

Speaking during the handover at Kakundu Primary School in Mangango Constituency, REA Project Engineer Charles Chikwanda urged residents to cooperate with the contractor to ensure successful implementation.

REA Regional Engineer Kasonde Musonda said the project, scheduled for completion within ten months, will bring economic benefits through power connectivity and local employment.

Mr Musonda encouraged residents to take advantage of ZESCO’s ongoing K300 connection promotion to link their homes and businesses to electricity.

“REA signed a contract with MTB and the contract is valid for ten months, that is 40 weeks. So they are to complete both Kalundu and Situtu within ten months. We expect them to complete the works even before that period if they can expedite the works accordingly and ensure that works are done faster,” Mr Musonda noted.

Kaoma District Commissioner Kashina Sheba reaffirmed government’s commitment to inclusive development, noting that the project will boost economic growth and improve education standards.

Ms. Sheba urged residents and the contractor to work together for its success.

“There are many projects that government is doing and one of them is this one. This is the development we are talking about now so that the people of Kaoma and Kalundu in particular, especially the youths, are crying every now and then looking for employment. I’m urging you the people of Kalundu to cooperate well with the contractor so that this project becomes successful,” Ms Sheba stated.

MTB Contractors Operations Manager Mwila Nkosha pledged to deliver the project within the timeframe while maintaining strong cooperation with REA, ZESCO and the community.

Zambia Development Agency (ZDA) Director General, Albert Halwampa has announced that Zambia will from February 2nd to 5th host the Continental Energy and Infrastructure Investment Forum (CIF), marking the first time the forum is being held outside the Republic of South Africa.

Mr Halwampa says the hosting of the forum is a major milestone that reflects Zambia’s growing regional and global investment profile and the country’s readiness for accelerated economic growth.

Speaking during a media briefing, Mr Halwampa has stated that the forum aligns with the investment-driven agenda being championed by President Hakainde Hichilema, aimed at promoting trade, investment and economic transformation.

He has noted that South Africa remains a key trade and investment partner and that CIF will provide an important platform to deepen cooperation in sectors such as energy, infrastructure, mining and agriculture.

The ZDA Director General said the energy sector will take centre stage at the forum, following the recent drought which exposed Zambia’s energy deficit.

“We currently have over 10,000 megawatts of power projects seeking financing and the forum provides a timely opportunity to connect independent power producers with financiers, including the Development Bank of South Africa, to unlock financial closure,” Mr Halwampa said.

He indicated that Zambia is also pursuing a major expansion in renewable energy, particularly solar and wind, to boost generation capacity.

Mr Halwampa further explained that Zambia aims to increase installed power generation from 3,800 megawatts to 10,000 megawatts, leaving a gap of 6,200 megawatts which requires urgent investment.

He emphasised that the forum is focused on delivering tangible deals and transactions, particularly in the energy sector, where several power purchase agreements are already in place and only require financial closure.

Mr Halwampa said Zambia’s improved macroeconomic environment has strengthened investor confidence, citing single-digit inflation, a stable and predictable exchange rate, and appreciating Kwacha following the successful debt restructuring process.

“Zambia offers a stable and predictable policy environment, political stability, strategic regional location, and an investor-friendly regime that allows full repatriation of profits, and we stand ready at ZDA to support investors at every stage,” he said.

And speaking at the same briefing, the South African Electrotechnical Export Council (SAEEC), Chief Executive Officer Chiboni Evans, said the Batoka Gorge Hydro Project is a clear demonstration of Africa’s growing capacity to finance and implement large-scale infrastructure projects.

Ms Evans said the Governments of Zambia and Zimbabwe committed about US$400 million in December last year to restart the Batoka Gorge Hydro Project, which is expected to generate significant power for the region and supply electricity to the Southern African Power Pool.

She noted that South African institutions have also committed US$200 million towards the project, further strengthening African-led financing for continental infrastructure development.

Ms Evans said the project presents an opportunity to ensure that African businesses play a leading role in building, operating and maintaining infrastructure, working closely with small and medium-sized enterprises (SMMEs) on the continent.

She said the approach reflects a shift in how Africa does business, with a strong emphasis on value addition and beneficiation, particularly in sectors such as critical minerals, to ensure benefits accrue to African citizens.

She said one of the key focus areas of the Continental Energy and Infrastructure Investment Forum (CEIF) is the mobilisation of domestic financing, including pension funds and sovereign wealth funds, to support infrastructure development, an agenda that aligns with priorities of the African Union.

Ms Evans noted that Zambia has already made progress in this area through the use of pension funds to finance projects such as the Maamba Energy expansion and the Durban–Lusaka transport corridor, providing valuable lessons for other countries.

On the energy front, Ms Evans said nuclear energy is another important thematic area being discussed, drawing on South Africa’s long-standing experience in nuclear power generation.

She emphasised that nuclear development presents significant opportunities for skills development and employment, particularly for Africa’s youth, noting that large nuclear facilities require thousands of engineers and artisans for construction and maintenance.

Ms Evans said the CEIF is deliberately structured as a small, decision-focused forum aimed at delivering measurable outcomes rather than broad discussions.

She added that future editions of the forum will focus on reporting progress and results, with Africa’s youth identified as the key stakeholders in shaping the continent’s long-term development.

Government says major objectives under the 8th National Development Plan have been achieved over the past four years.

Minister of Finance and National Planning Situmbeko Musokotwane cited debt restructuring as a key milestone, noting that Zambia’s default had previously discouraged investors.

He expressed satisfaction that the restructuring deal has restored confidence and attracted new investment.

Speaking at the official opening of the 2025 fourth-quarter National Development Coordinating Committee (NDCC) meeting, Dr. Musokotwane also highlighted the revival of the mining sector, which had suffered from an unstable policy environment.

Dr. Musokotwane said reversing this instability has allowed mining firms to resume operations, benefiting communities reliant on the industry.

The Minister emphasized that the economy has recorded consistent growth over the last four years.

On the cost of living, he clarified that lower inflation does not automatically translate into reduced household expenses.

Dr. Musokotwane however, stressed that increased production and collective hard work are the only sustainable solutions, while assuring that government will continue creating a conducive environment for productivity.

“But inflation coming down is not the same as the cost of living going down, the issue of the cost of living is not going to be solved by prices of commodities going down,” he noted.

“So the way we are going to solve the issue of the cost of living is by all of us working harder,” he urged.

Looking ahead, Dr. Musokotwane said the government’s 2026 agenda is focused on expanding the economy further, urging public sector workers to adopt a supportive mindset toward private enterprise.

He underscored that no country has developed without strong private sector participation.

Meanwhile, Secretary to the Cabinet Patrick Kangwa called for consolidating the gains made in 2025 and strengthening coordination across all sectors.

Mr Kangwa urged faster delivery in areas where implementation has lagged, as the 8th National Development Plan nears completion.

He emphasized the NDCC’s role in fostering synergies among stakeholders and ensuring realistic, results-driven resolutions to advance national development.

Zambia has successfully concluded its International Monetary Fund (IMF) Extended Credit Facility (ECF) programme, marking a major milestone in the country’s efforts to restore economic stability, manage debt, and strengthen fiscal discipline.

However, economists caution that sustaining the gains achieved under the programme will require continued reforms and prudent economic management.

Financial analyst Trevor Hambayi says the ECF programme has largely met its objectives of debt restructuring and macroeconomic stabilisation.

Mr Hambayi explains that the programme has created fiscal space, enabling the government to mobilize and allocate resources more effectively.

“These resources have supported free education, the Constituency Development Fund (CDF), the Farmer Input Support Programme (FISP), and the Social Cash Transfer programme,” he said.

Meanwhile, economist Kampamba Shula says Zambia has recorded notable progress following the completion of the IMF ECF programme, citing improved fiscal discipline, enhanced debt management, and restored policy credibility.

Mr Shula, however, warned that the economy is not yet fully stable and stressed the need for sustained reforms to consolidate the gains made.

He emphasised the importance of maintaining fiscal discipline, predictable tax policies, and controlled government spending to ensure long-term economic stability.

Mr Shula further noted that Zambia must accelerate efforts to diversify its economy beyond copper and strengthen energy reliability.

“Zambia needs to continue reforms, diversify away from copper, ensure reliable energy supply, and strengthen fiscal management. Strong institutions will be key to achieving this,” he said.

The economist identified falling copper prices, climate-related shocks, and political overspending during election periods as major risks that could undermine investor confidence and economic stability.

“Any of these risks could undermine confidence, trigger currency volatility, and push up inflation. Consistency and transparency will be key,” he said.

Mr Shula also praised reforms under the revised Banking and Financial Services Act, noting that stronger oversight and the introduction of deposit insurance have improved transparency and boosted confidence in Zambia’s banking sector.

“Deposit insurance reassures households and businesses that their money is safe, and this aligns with Zambia’s IMF programme targets,” he said.

He added that Zambia has met most of the IMF’s performance benchmarks, placing the country on a positive reform trajectory as it heads into 2026.